Germany’s Energy Crisis-DIW Research
2023.03.02 12:51
Germany’s Energy Crisis-DIW Research
By Ray Johnson
Budrigannews.com – Claudia Kemfert, a researcher with the German economic research organization DIW, stated on Thursday that Germany’s policy response to the energy crisis brought on by Russia’s invasion of Ukraine is “very mixed.”
In an interview with Reuters TV, Kemfert stated that Berlin’s efforts to expand renewable energy were moving in the right direction.
She said that Germany had invested too much in fossil fuels, such as expanding the infrastructure for liquefied natural gas (LNG), and that this process was too slow.
Kemfert stated that Germany was “well prepared” for the next winter, noting that the mild temperatures and high gas storage levels had prevented energy supply issues.
She added, however, that energy savings by businesses and households continue to be crucial, and that the German government’s price caps for gas and electricity gave people the impression that they could rely on the government to cushion the blow to their wallets.
Kemfert stated, “That is indeed a big problem and can prevent the savings potential from being realized.”
